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Anthony Veder Group N.V.


Anthony Veder Group N.V.

Balance sheet movements, P&L including cost centers and vessels, Financial consolidation and reporting, Monthly reports 


“CCH Tagetik has accelerated our reporting processes and improved our financial and business analytics. We have gained more control over our financial data and can produce monthly reports and analyses for our executive board faster and more efficiently than before.”

Ralph van Etten - Manager Accounting and Reporting, Anthony Veder


 

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the challenge

Anthony Veder operate gas tankers in all the segments of gas shipping, from LPG shipping to LNG shipping and from CO2 shipping to ethylene shipping. In the past, Anthony Veder collected, consolidated, analyzed and reported the performance of its operations in Excel spreadsheets, which were frequently customized by business controllers and accounting staff. Due to the limited drill-down possibilities and onesided views in Excel, reacting to the growing number of questions from management and shareholders, as well as fulfilling new and extended information requirements was become more and more cumbersome. The entire process from start to finish had also grown into a time-consuming exercise and lacked the necessary controls to ensure the required data integrity.


Together with Improven, Anthony Veder kicked off a project in late 2015 to introduce and implement CCH Tagetik as their Corporate Performance Management (CPM) solution. After a thorough analysis of their process and information requirements during design sessions, the project team implemented the data model, consolidation rules and developed the reports.

Benefits

Benefits


Monthly Consolidation and Reporting Process

The prime focus of the project was to implement CCH Tagetik to support the monthly consolidation and reporting process with historical data analyses

Robust Single Source of Truth

With CCH Tagetik, Anthony Veder streamlined these cycles, increased data consistency, and created a robust single source of truth.

Consistent Database

The CCH Tagetik database provides a consistent database for all reporting data – ranging from actuals and historical data

Streamlined processes

By streamlining the processes of data collection, intercompany matching, consolidation and reporting, group controllers can now prepare monthly reports faster and with less effort

More data available for trend analysis

More time can be spent on analysis, which also improved the data transfer and quality of accounting at their group companies

Enhanced Control

CCH Tagetik controls and formal submission requirements for a two-stage reporting process

the solution

The project team used CCH Tagetik to optimize its data collection, consolidation and reporting processes. The CCH Tagetik database provides a consistent database for all reporting data – ranging from actuals and historical data.


In addition to automating the processes of uploading and validating data from the accounting system (MS Dynamics AX), CCH Tagetik as the new CPM system supports process management measures, controls and formal submission requirements for a two-stage reporting process.


By streamlining the processes of data collection, intercompany matching, consolidation and reporting, the group controllers at Anthony Veder can now prepare their monthly reports faster and with less effort than. As a result more time can be spent on analysis, which also improved the data transfer and quality of accounting at their group companies.

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